The reserves had risen by $1.09 billion to $314.92 billion for the week ended May 16. For the week ended May 9, the Forex had gained by $1.97 billion to $313.83 billion.

According to the RBI’s weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, fell by $2.25 billion to $285.56 billion in the week under review.

The foreign currency assets had increased by $1.26 billion to $287.81 billion for the week ended May 16.

The RBI said the foreign currency assets, expressed in US dollar terms, include the effect of appreciation or depreciation of non-US currencies held in reserve such as the pound sterling, euro and yen.

However, India’s reserve position with the International Monetary Fund (IMF) decreased by $3.7 million to $1.67 billion.

The value of special drawing rights (SDRs) also fell. The SDRs were down $9.8 million to $4.45 billion.

The value of gold reserves remained the same in the period under review at $20.96 billion. The reserves had declined by $601 million at $20.96 billion in week ended May 2.

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